Tecnoglass Inc. (NASDAQ:TGLS) is Riverwater Partners LLC’s 5th Largest Position

Riverwater Partners LLC trimmed its position in Tecnoglass Inc. (NASDAQ:TGLS) by 1.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 61,570 shares of the company’s stock after selling 1,094 shares during the period. Tecnoglass accounts for about 2.4% of Riverwater Partners LLC’s holdings, making the stock its 5th largest holding. Riverwater Partners LLC’s holdings in Tecnoglass were worth $4,884,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TGLS. Wellington Management Group LLP lifted its stake in shares of Tecnoglass by 29.5% during the third quarter. Wellington Management Group LLP now owns 1,966,119 shares of the company’s stock valued at $134,994,000 after buying an additional 447,647 shares during the period. Polaris Capital Management LLC lifted its stake in shares of Tecnoglass by 2.5% during the 4th quarter. Polaris Capital Management LLC now owns 860,964 shares of the company’s stock worth $68,292,000 after purchasing an additional 20,800 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Tecnoglass by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 517,435 shares of the company’s stock worth $41,043,000 after purchasing an additional 31,493 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Tecnoglass by 4.8% in the third quarter. Geode Capital Management LLC now owns 500,265 shares of the company’s stock valued at $34,355,000 after purchasing an additional 22,700 shares during the period. Finally, State Street Corp increased its stake in Tecnoglass by 29.1% in the third quarter. State Street Corp now owns 416,964 shares of the company’s stock valued at $28,674,000 after purchasing an additional 93,968 shares during the last quarter. 37.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Tecnoglass in a research note on Saturday, December 14th. They issued a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Tecnoglass presently has an average rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Price Performance

Shares of Tecnoglass stock opened at $64.76 on Friday. The stock has a market capitalization of $3.04 billion, a P/E ratio of 20.24 and a beta of 1.66. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The business’s fifty day moving average price is $72.33 and its 200 day moving average price is $74.74. Tecnoglass Inc. has a twelve month low of $40.94 and a twelve month high of $86.99.

Tecnoglass Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Monday, March 31st. Tecnoglass’s payout ratio is currently 17.49%.

About Tecnoglass

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.